Trex shares rally on narrower than expected loss

MichaelBaron

NEW YORK (MarketWatch) -- Shares of Trex Inc.
TWP, -0.88%
surged almost 12% to $29.59 in afternoon action on Thursday after the Winchester, Va., maker of composite deck and railing products posted a narrower than expected loss for the second quarter and backed its outlook for the full year. The company lost $1 million, or 7 cents a share, on sales of $82.9 million for the June quarter. In the same period a year earlier, Trex earned $11.1 million, or 75 cents a share, on sales of $83.4 million. The company also confirmed its outlook for earnings of 50 to 60 cents a share on sales ranging from $270 million and $280 million for fiscal 2005. Trex said it's working to reduce selling, general and administrative expenses and working to improve manufacturing efficiencies at its three plants.

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